Key numbers from this mornings WASDE Report:
- Projections for corn, sorghum, and oats supplies, usage, and ending stocks are all unchanged. Barley exports are lowered 2 million bushels reflecting the slow pace of shipments and sales to date.
- No changes are made on the supply side of the U.S. 2010/11 rice supply and use balance sheet.
- U.S. soybean supply and use projections for 2010/11 are mostly unchanged from last month.
- U.S. wheat ending stocks for 2010/11 are projected higher this month on reduced export prospects.
- Projected exports are lowered 25 million bushels with increased world supplies of high quality wheat, particularly in Australia, and a slower-than-expected pace of U.S. shipments heading into the final quarter of the wheat marketing year.
- Projected U.S. sugar supply for fiscal year 2010/11 is decreased 163,000 short tons, raw value, from last month.